HighTower Advisors LLC Has $3.06 Million Position in APA Corporation $APA

Key Points

• HighTower Advisors LLC reduced its stake in APA Corporation by 33.0%, owning $3.06 million worth of shares after selling 71,779 shares in Q1.
• Institutional investors and hedge funds collectively own 83.01% of APA's stock, indicating strong institutional interest in the company.
• APA Corporation reported $0.87 earnings per share in its latest quarterly results, significantly surpassing analysts' expectations of $0.45.

HighTower Advisors LLC decreased its holdings in shares of APA Corporation (NASDAQ:APA - Free Report) by 33.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 145,532 shares of the company's stock after selling 71,779 shares during the period. HighTower Advisors LLC's holdings in APA were worth $3,059,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of APA by 8.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company's stock valued at $292,871,000 after purchasing an additional 1,046,893 shares in the last quarter. Dimensional Fund Advisors LP grew its position in APA by 33.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,186,244 shares of the company's stock valued at $142,823,000 after acquiring an additional 1,540,055 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of APA by 29.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,297,871 shares of the company's stock worth $122,328,000 after acquiring an additional 1,195,212 shares during the period. Northern Trust Corp increased its holdings in APA by 7.2% in the fourth quarter. Northern Trust Corp now owns 4,025,421 shares of the company's stock worth $92,947,000 after purchasing an additional 269,865 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of APA by 32.2% during the fourth quarter. First Trust Advisors LP now owns 2,166,968 shares of the company's stock valued at $50,035,000 after acquiring an additional 528,159 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on APA shares. Cowen reissued a "hold" rating on shares of APA in a research report on Thursday, August 7th. Mizuho cut their price objective on APA from $20.00 to $19.00 and set an "underperform" rating for the company in a report on Tuesday, May 13th. Cfra Research upgraded APA to a "hold" rating in a research report on Friday, August 8th. Scotiabank reiterated a "sector perform" rating and set a $22.00 price objective (up previously from $14.00) on shares of APA in a report on Friday, July 11th. Finally, UBS Group lifted their price objective on APA from $21.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $23.94.

APA Stock Down 0.6%

Shares of APA traded down $0.15 during mid-day trading on Tuesday, hitting $22.22. 2,409,653 shares of the company's stock were exchanged, compared to its average volume of 7,971,452. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average of $19.53 and a two-hundred day moving average of $18.90. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 7.42, a P/E/G ratio of 6.37 and a beta of 1.23. APA Corporation has a twelve month low of $13.58 and a twelve month high of $29.47.

APA (NASDAQ:APA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.42. The company had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The business's revenue was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.17 EPS. On average, sell-side analysts forecast that APA Corporation will post 4.03 earnings per share for the current year.

APA Company Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.